As you may have guessed, the most successful entrepreneurs have a lot in common.
Those who have studied successful entrepreneurs have found there are many common habits and traits that define and shape their path to success. It’s not about what they do, but about the similarities in their behaviors and their individual processes of consistently replicating those habits. The commonalities between these successful entrepreneurs turn out to be quite consistent. Here’s a look at five common habits of successful entrepreneurs:
Punctuality – If this sounds simplistic, it is. Business coach and consultant Dan Kennedy believes the simple task of being on time is a habit you must adopt if you want to be successful. “A person reveals a great deal about himself by his punctuality or lack of punctuality,” Kennedy says. “As a general rule of thumb, I use this as a means of determining whether or not I want to do business with someone.”
Value customers and employees – Many successful entrepreneurs treat their customers as the driving force behind everything they do. They treat opinions – both customers and employees – as gold, using it to shape their creative process, products and customer service. Ben & Jerry’s is a great case study of valuing opinion and integrating corporate responsibility and philanthropy.
Passion drives business – A strong desire to turn a passion into a business is the ultimate motivator. A look at the most successful entrepreneurs in history would show many who fall into this category. But the best entrepreneurs don’t start off with making a fortune as an objective – it sometimes happens along the way. Passion brings fulfillment and satisfaction beyond a big payday, which as a sole focus causes entrepreneurs to cut corners along the way.
Playing to strengths and expertise – The best entrepreneurs are confident in their areas of expertise and very clearly know their strengths. That leads to profitable decisions. Because they embrace their strengths, they are able to also embrace the concept of team-building and bringing in partners and leaders who offset their weaknesses. This allows them to focus on what they do best.
Embracing obstacles – No business venture will be void of obstacles, but the most successful entrepreneurs find a way to embrace the challenges and find the opportunities and surprises hidden within. Obstacles can help learn about your products and ideas early on, provide quantitative evidence, teach what you might not know and provide feedback that can take you in another direction.